Tritax Big Box Reit Share Discussion Threads

[scruff1] 21/10/2023 18:23

Unlike you skinny - day late

[nickrl] 17/10/2023 08:56

@Skinny low margin of 1.2% is good but nothing in RNS about whether its linked to SONIA and is it hedged? The previous 450m RCF was hedged although to when isn't clear Fortunately they aren't using much of it and the sales are helping fund the near term development costs as well so wont materially alter finance charges currently.

[yump] 25/9/2023 17:40

You should get a salary of at least £200K for the accuracy of that target ;-)

[fordtin] 25/9/2023 14:26

FWIW

I cut Tritax Big Box price target to 240.75 (241) pence - 'do your own thing'

[skinny] 25/9/2023 11:44

RBC cuts Tritax Big Box price target to 205 (215) pence - 'outperform'

[cwa1] 01/9/2023 08:44

FWIW

Bank of America raises Tritax Big Box price target to 180 (170) pence - 'buy'

[scruff1] 31/8/2023 16:35

Yep. HL bit later than usual but still good - early afternoon. Disappointing finish

[skinny] 31/8/2023 12:14

Has anyone received their dividend today?

On edit - just received.

[igoe104] 17/8/2023 07:07

News of a potential takeover of EPIC might feed through into the warehouse reits section, if it comes to fruition.

[skinny] 16/8/2023 08:39

Barclays raises Tritax Big Box to 'overweight' (underweight) - price target 165 (150) pence

[scruff1] 14/8/2023 15:59

Blimey I missed the previous rns re equity issue

[scruff1] 14/8/2023 15:53

Aviva taking £1m worth has given a late boost. Bit of cheer is always welcome

[alter ego] 12/8/2023 18:35

Thanks that is very informative

[speedsgh] 11/8/2023 09:16

Industrial & logistics take-up reverts back to pre-covid levels -

According to Savills latest Big Shed Briefing, UK take-up of industrial & logistics space (units of 100,000 sq ft+) reached 12.5 million sq ft in H1 2023, the lowest level recorded since 2013. This, however, is just 1% shy of the pre-Covid H1 average (Q1 2007 to Q1 2020), signifying the return to levels seen prior to the pandemic.

Savills notes that with an increased level of occupier controlled stock on the market and 9 million sq ft of speculative completions in Q2 2023 alone, the firm has seen supply rise to 41.9 million sq ft, an increase of 120% on Q2 2022. This reflects a vacancy rate of 6.25%, which, again, is in line with the pre-Covid average of 6.3%.

There is now 21.8 million sq ft of Grade A space on the market, which at 52% of total supply, is the highest level since 2020. However, Savills expects this to trend downwards as current supply is leased-up and the development pipeline is not replenished as quickly. In fact, there have been just 22 speculative development announcements this year, compared to 39 over the same period in 2022.

A key factor driving lower take-up is the lack of transactions over 400,000 sq ft, with just six completing so far this year. It is also attributable to the fall of build-to-suit (BTS) deals which has reduced from 16.2 million sq ft in H1 2022 to 5.2 million sq ft in H1 2023.

Nevertheless, Savills expects take-up to rise in the second half of the year. The latest data from the firm’s occupational requirements index shows that enquiry levels have risen 64% in H1, driven largely by a significant rise in demand for units over 500,000 sq ft.

The diversity of the occupier mix continues to point to a well-balanced market, less dominated by one particular segment as witnessed with online retail over the past five years. Indeed, Savills figures show that online retail accounted for just 6% of space taken so far in 2023, whilst a resurgence of manufacturing related demand remains, accounting for 28% of take-up, up from just 13% in 2021.

Richard Sullivan, national head of industrial & logistics at Savills, comments: “As we reach the half way point of 2023, economic data in the UK remains volatile and unpredictable. As a result of inflation, higher costs of capital will impact the market in many ways, with developers finding it hard to fund speculative development. In turn this will constrain pipeline moving forward. However, despite uncertainty unemployment remains historically low and consumer confidence, in relation to people’s individual circumstances, remains surprisingly high. This means that occupiers still need to consider the suitability of their supply chains for a market that will continue to grow, notwithstanding the challenges in the short term.”

[skinny] 09/8/2023 11:14

XD tomorrow 1.75p

[speedsgh] 03/8/2023 09:49

Debt maturity

At 30 June 2023, the Group's debt had an average maturity of 4.9 years (31 December 2022: 5.4 years), with the next maturity falling due in approximately 18 months and the farthest maturity falling due in more than 10 years.

We have begun the process of refinancing the £450 million RCF that expires in December 2024 and have held positive talks with our lenders and we expect to complete this process in the second half of the year.

[petewy] 20/7/2023 16:55

Try this. BBOX is of the three ideas.
hxxps://www.hl.co.uk/news/articles/3-share-ideas-that-could-ride-out-inflation?utm_campaign=EOF70%20-%20Inflation%20articles%20-%2019.07.2023&utm_source=AdobeCampaign&utm_medium=email&theSource=EOF70%20&e_cti=12705696&e_ct=F&Override=1&deliveryName=DM109861

[igoe104] 19/7/2023 08:09

Slowing inflation will be good news for undervalued reits ...

[killing_time] 19/7/2023 07:28

CPI figures are down.

[this tea tastes of chicken] 19/7/2023 07:27

That’s a big jump on this morning,did I miss something? I’m guessing on long term interest rates?

[dave129] 19/7/2023 07:27

+7% on the back of lower than expected inflation data in first 25mins of trading.